Question: please need help on this, if you can help to resolve this by using journal entries I will really appreciate it. On January 1, 2018,

please need help on this, if you can help to resolve this by using journal entries I will really appreciate it.

On January 1, 2018, BBC Co, recorded a right-of-use asset of $270,360 in an operating lease. The lease calls for ten annual payments of $40,000 at the beginning of each year. The interest rate charged by the lessor was 10%. What amount will BBC Co. record for interest expense at December 31,2019 ? A. $23,036 B. $27,036 C. $31,036 D. $40,000 What amount will BBC Co. record for amortization expense at December 31, 2019? A. $23,036 B. $27,036 C. $16,964 D. $63,036

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